Wassa
They obviously have a bid in at 35c . The volume has been very low so the quantity bought back equally low. Personally I like the fact they are disciplined and buying back shares at a price they think is a good enough discount to intrinsic value to make buy back EPS accretive over the short and medium term . AUD must surely be helping bottom line and cash flow, particularly as this is the half where they make most of their profits and cash flow. They have also hired a PR firm for shareholder communications and are planning to ramp up coms as they feel the company is at a significant juncture poised for very good growth. The capex cycle is almost over so cash flow will be very attractive going forward and I think all going well , this is the last year of GAP having net debt . Cash flow going forward is likely to come out in the form of higher dividends and I wouldn’t be surprised to see a divi 0f 2.5 within 12- 24 months which will be 7% on today’s prices
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